Varoufakis Says Bailouts “Toxic Mistake”

ATHENS – New Greek Finance Minister Yanis Varoufakis said bailout deals previous governments signed with international lenders were “a toxic mistake” he intends to reverse.

Varoufakis, an economist an blogger appointed by Prime Minister and SYRIZA leader Alexis Tsipras said he will try to reach an agreement with the Troika of the European Union-International Monetary Fund-European Central Bank (EU-IMF-ECB) with different terms.

During a handover ceremony Jan. 28, Varoufakis said that the new administration is determined to change the logic of how the crisis is tackled in which former administrations had imposed harsh austerity measures while neglecting growth or tackling tax evasion.

SYRIZA’s election victory, Varoufakis said, “is a chance for a new start, a reboot for the whole of Europe.”

Varoufakis said that the Finance Ministry plans to reduce the number of advisers and rehire cleaning ladies fired by the coalition government led by former Premier and New Democracy Conservative leader Antonis Samaras.